As of 5:30 pm on Wednesday (July 2), Epicsoft Asia received more than 104 million validly accepted offers, accounting for approximately 96.59% of the total number of issued shares. Among them are Teng Woo Boon Ronald, managing director of Bandung Technology, and his wife Zhang Suqing, a total of more than 30 million shares, accounting for approximately 28.13% of the total issued shares.
The acquirer announced on April 30 that he would file an offer to Bandung Technology. The deadline for shareholders to accept the offer is July 2. The acquirer will exercise his right to force the acquisition of the remaining shares that it has not purchased at a purchase price of RMB 0.6029 per share.
Since the free circulation ratio of Bandung Technology's stocks no longer meets the listing requirements, trading will be suspended on Thursday (3rd). Bandung Technology's final share price remained flat at 0.595 yuan on Wednesday.
Epicsoft Asia, a wholly-owned subsidiary of GCL Global, a Nasdaq stock market listed company, proposed a mandatory acquisition to Ban Leong Technologies, a distributor of computer hardware and accessories, and after the acquisition is completed, it will privatize Bandung Technologies and delist from the Singapore Exchange main board.